All Infomation Blog

The old Provident Fund has now grown very old, 67 years old, to be precise. Times have changed now. The needs of the workforce today are different from what used to be then. Today, the youth is not running after stability but risks. To such a working professional, the EPF is not very suitable. When they have to take a break from their current job through which they have subscribed in the EPF, problems start to begin. The EPF interest becomes taxable. When this unemployment is prolonged, it even stops drawing interest. As such, the amount loses value due to inflation each year. The EPF also does not give the freedom of decision of investment to the employee. On top of that, a tiny share of the EPF amount is invested in equity, that too by ETFs. Therefore, it does not create room for good returns. Thus, once you unsubscribe in the EPF, you should withdraw all your money from the EPF as soon as possible.

A good CIBIL Score is important when you apply for loans and credit cards. CIBIL score ranges between 300 and 900. Every lender accesses your CIBIL score before they offer you a loan. As, these scores gives the lender an idea about your creditworthiness, previous payment track record, previously applied loans as well as debts applied.  A credit score above 650 is considered good in order to get instant loan approval. On the other hand, any credit score below 650 is considered a bad score that means you would not be eligible to apply for any loans to meet your financial requirements. Generally, a credit score lies between 300 and 900. The better the loan, better are your loan approval chances. The score closest to 900 is considered good to avail loans on lesser interest rates from lenders whereas if your credit score is below than this is not good and it shows that you are not eligible to apply for loans or credit cards. There are some factors that influence your credit score...

In order to meet the requirements of post-retirement, one needs to start planning decades before. The safest way to create funds for retirement is provident fund. Though there are 3 kinds of PF Employee's Provident Fund , Public Provident Fund, and General Provident Fund each one being very different from the other although not many people understand their difference. The basic difference between the three are: 1. In EPF investment is made by both employee and employer. In PPF investment is open and can be opened by any individual and in GPF it is only for government employee and only the employee makes a contribution. 2. 12% of basic salary and D.A contributed by employee and employer in EPF. In PPF from Rs. 500-1.5 lac. In GPF minimum 6 % of emoluments up to basic salary. 3. The interest rate for 2017-18 for EPF is 8.55%, for PPF and GPF is 8%. 4. EPF and PPF have a lock-in period of 5 and 15 years respectively. In GPF contribution continue till 3 months prior to ...

The basic idea of EPF is that it’s a debt based saving scheme with the objective of saving for the retirement powered by the government which provides an attractive rate of interest and the privilege of tax exemption as well. Though there are certain scenarios in which the withdrawn EPF amount is taxable. These scenarios are arising more so in today’s dynamics as the trend of working with the same employer for a long duration is fading fast. Thus, in case of job change employee is required to transfer EPF account to the new employer which again is tax-free. However, there can be a situation where the new organization does not come under the PF Act. So to tackle such different situations it is being stated that to withdraw from EPF account minimum of 5 years of continuous service is required not necessarily with the same employer and in case the withdrawal is made of more than Rs. 50,000 before 5 years than 10% TDS will be deducted. This deduction will be exempt if the individual ...